State Bank of Vietnam
Headquarters | 49 Ly Thai To Street, Trang Tien Ward, Hoan Kiem District, Hanoi |
---|---|
Established | 6 May 1951 |
Ownership | Government of Vietnam 100% state ownership[1] |
Governor | Nguyễn Thị Hồng |
Key people | Nguyễn Toàn Thắng, Đào Minh Tú, Nguyễn Kim Anh |
Central bank of | Vietnam |
Currency | Vietnamese đồng VND (ISO 4217) |
Reserves | 27 880 million USD[1] |
Website | www |
The State Bank of Vietnam (Vietnamese: Ngân hàng Nhà nước Việt Nam) is the central bank of Vietnam. It currently[when?] holds an about 65% stake of VietinBank, the country's largest listed bank by capital. In 2024, a former State Bank of Vietnam official accused of accepting $5.2 million in bribes faced trial in conjunction with the 2022 arrest of Trương Mỹ Lan and the near failure of Sai Gon Joint Stock Commercial Bank.
History
When
After the
After the
In the
Buildings
Several of the State Bank of Vietnam’s buildings are inherited from the Banque de l'Indochine. These include the State Bank’s headquarters in Hanoi, former Hanoi office completed in 1930; the Ho Chi Minh City branch, former central office in Indochina, also completed in 1930; and the branches in Haiphong (completed in 1925) and Nam Định (completed in 1929) among others.
Controversies
The former prime minister,
In 2024, a former State Bank of Vietnam official accused of accepting $5.2 million in bribes faced trial in conjunction with the 2022 arrest of Trương Mỹ Lan and the near failure of Sai Gon Joint Stock Commercial Bank.[5]
Functions and roles
The State Bank of Vietnam is a ministry-level body under the administration of the government; the bank governor is a member of the cabinet (equivalent to a minister in the cabinet). The governor is nominated by the prime minister subject to the approval of the National Assembly (Parliament). Vice governors are appointed by the prime minister on the recommendation of the governor. Both governor and vice governors serve a 5-year term. The State Bank of Vietnam defines its principal roles as [1]:
- Promote monetary stability and formulate monetary policies.
- Promote institutions’ stability and supervise financial institutions.
- Provide banking facilities and recommend economic policies to the government.
- Provide banking facilities for the financial institutions.
- Manage the country's international reserves.
- Print and issue banknotes.
- Supervise all commercial banks’ activities in Vietnam. Lend the state money to the commercial banks.
- Issue government bonds, organise bond auctions.
- Be in charge of other roles in monetary management and foreign exchange rates
Governor of the State Bank of Vietnam
Governor | Took office | Left office | Notes |
---|---|---|---|
Nguyễn Lương Bằng | 1951 | 1952 | [6] |
Lê Viết Lượng | 1952 | 1964 | [6] |
Tạ Hoàng Cơ | 1964 | 1974 | [6] |
Đặng Việt Châu | 1974 | 1976 | [6] |
Hoàng Anh | 1976 | 1977 | [6] |
Trần Dương | 1978 | 1981 | [6] |
Nguyễn Duy Gia | 1981 | 1986 | [6] |
Lữ Minh Châu | 1986 | 1989 | [6] |
Cao Sỹ Kiêm | 1989 | 1997 | [6] |
Nguyễn Tấn Dũng | 1998 | 1999 | [6] |
Lê Đức Thúy | 1999 | 2007 | [6] |
Nguyễn Văn Giàu | 2007 | 2011 | [6] |
Nguyễn Văn Bình | 2011 | 2016 | [6] |
Lê Minh Hưng | 2016 | 2020 | |
Nguyễn Thị Hồng | 2020 |
See also
- corruption in Vietnam
- List of banks in Vietnam
- Economy of Vietnam
- Vietnamese đồng
- List of central banks
References
- ^ a b Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
- ^ World Bank (1 March 1995). Viet Nam Financial Sector Review (PDF). pp. III–V.
- ^ ordinance on the State Bank of Vietnam, 23 May 1990 (translation on the website of the Embassy of Vietnam in the United States)
- ^ "Spotlight: Nguyen Van Giau, Vietnam's central bank governor". International Herald Tribune. 11 December 2007.
- ^ ANIRUDDHA GHOSAL (5 March 2024). "A Vietnamese property tycoon accused of embezzling $12.5 billion begins her trial". Retrieved 16 March 2024.
- ^ a b c d e f g h i j k l m "Former Governors".
External links
- (in Vietnamese and English) State Bank of Vietnam official website